Some of last week’s economic data include:
Businesses managed to create a meager 148,000 jobs in September, which includes an increase of 22,000 government jobs. We are just whizzing along aren’t we? The unemployment rate ticked down to 7.2% but an estimated 136,000 people dropped out of the labor force in the month…these people who have given up on finding gainful employment, are NOT included in the employment numbers.
New orders for manufactured durable goods increased 3.7 percent in September, the increase, up five of the last six months, followed a 0.2 percent August increase. Sounds good, right?
Here are some details:
- Virtually all the strength in orders was concentrated in civilian aircraft (Boeing) up 57.5%.
- Motor vehicles edged 0.3 percent lower.
- Durable goods orders ex these transportation items were actually down 0.1%.
- More important to GDP, shipments (product leaving the docks) for September rose just 0.2% as compared to August which was +0.8%. The tilt in shipments is positive, but slight.
The Chicago Fed National Activity Index numbers for September will not be released until November 12, the October CFNAI numbers will be released November 27. Delay caused by the government shutdown.
Spy vs Spy
The National Security Agency, long revered for its ability to protect the security of the American people, if not for snooping on them for political reasons, has ceased spying on world leaders such as Angela Merkel, the current leader of Germany. Ironically, president Obama (according to reports on Sunday) was unaware this was going on …
- On Monday reports surfaced that he WAS told of this monitoring 3 years ago, of course the administration says this is false.
- On Tuesday afternoon the NSA issued a press release stating that France and Spain conducted their own spying operations – then shared their findings with the NSA.
- Shortly thereafter another press release – a correction – was issued stating that France and Spain aided the NSA in their spying efforts, taking us back to square one.
… just as he was unaware of the IRS targeting conservative groups, the NSA monitoring phone calls of American citizens, the attack on Benghazi, the deplorable rollout of his signature piece of legislation, Obamacare.
All of these things are foreign to our leader. Really? How is that even remotely possible? I have vented on his total lack of accountability for anything that occurs or has occurred during his administration. It is a bad joke…and we bear the brunt of it. The media refuses to cover these occurrences in a forthright, honest and unbiased manner which means the uninformed voters listen to and believe the garbage they spew and STILL believe the Democrats have their best interests at heart. They do NOT.
The ACA will prove to be a behemoth of a new entitlement to those who wish only to take, not contribute, not give back to our great country. Do you know what we are entitled to? Life, Liberty and the Pursuit of Happiness. There are no guarantees of anyone’s happiness (without their own well directed efforts) or well being in this country or anywhere on the planet, as well intentioned as this may be, it is not reality. Life is difficult and then you die; it is survival of the fittest.
Our own efforts to do and be what we desire
These things are guaranteed by the freedoms we enjoy as American citizens, given and guaranteed to all of us at great cost by many American Patriots over more than two centuries. Our current lawmakers would take this all away to serve their own ends. It’s a disgusting narrative of where we have sunk as a society. In fact, the left leaning politicos do not care about anyone’s well being (aside from their own), they care about the votes cast which keep them in office, stealing our money, year after year after year. Bastards, every last one of them.
US raw steel production sank 1.00 percent from the previous week as mills operated at an average capability utilization rate (ACUR) of 75.8 percent. It is the lowest production level since the week ended March 23 when US mills operated at an ACUR of 75.5 percent. In the corresponding week last year mills operated at an ACUR of 68 percent according to the American Iron & Steel Institute, Washington. Thus far this year mills have operated at an ACUR of 77.2 percent.
….but I digress…again….
Questions -> Catastrophe
The House committee questioning Kathleen Sebelius on Obamacare is revealing what a catastrophe this law, tax, entitlement is. The secretary of Health and Human Services (HHS) is ill prepared for the task for which she was placed in charge. She has no answers, only promises to get answers. This is what happens when you hire friends and NOT qualified people or qualified companies to execute important tasks. Pay back of political support by political favor. Again, there is NO ACCOUNTABILITY on this. None whatsoever. Simply put, a disgrace.
The October Chicago Business Barometer rose to 65.9 in October from 55.7 in September, led by double digit gains in New Orders, Production and Order Backlogs. October’s gain placed the Barometer at the highest level since March 2011. The advance was the largest in 30 years and only the third time in the past decade the Barometer has risen for four consecutive months.
The report above is published monthly by MNI Indicators, part of Deutsche Borse Group, in partnership with the ISM-Chicago. This is a very powerful reading and I am anxious to see the ISM numbers (the ISM readings were delayed due to the government shutdown) and also the Chicago Fed National Activity Index numbers, which have been languishing for months in negative territory.
Ask…and ye shall receive…..reported Friday 11/1/13
- Economic activity in the manufacturing sector expanded in October for the fifth consecutive month and the overall economy expanded for the 53rd consecutive, say the nation’s supply executives in the latest Manufacturing ISM (Institute for Supply Management) Report on Business.
- ”The PMI registered 56.4 percent, an increase of 0.2 percentage point from September’s reading of 56.2 percent. The PMI has increased progressively each month since June, with October’s reading reflecting the highest PMI in 2013.
- The New Orders Index increased slightly while the Production Index retreated by 1.8 percentage points. A reading above 50 percent in the PMI generally indicates expansion of the overall economy.
- “If you like your insurance plan, you can keep it. Period….” NOT
- “If you like your doctor, you can keep seeing them. Period….” NOT
- Fast & Furious-providing weapons to criminals leading to a loss of American life. No one held accountable. The president was unaware.
- The loss of 4 American lives at our embassy in Benghazi, Libya. No one held accountable. The president was unaware.
- The IRS targeting conservative political groups for tax-exempt status. No one held accountable. The president was unaware.
- The National Security Administration eavesdropping on the phone calls of American citizens. No one held accountable. The president was unaware.
- The software program created for the Affordable Healthcare Act, at a cost of $650 million and 3 ½ years to perfect, has been unusable to the American people. No one held accountable. The president was unaware.
- Spying on our Allies, specifically Angela Merkel of Germany. No one held accountable. The president was unaware. (although these things go on knowingly between countries all the time, the fact that our 87 knowledge of this is just another sign of his incompetence as the leader of the most powerful country on the planet)
We have hard work ahead of us to right this ship, the signs that the Progressive Movement is a failure are evident everywhere you find it trying to overtake our lives. This administration believes it knows better than you or I what is good for us.
Last night was Halloween, our little village of Chagrin Falls CANCELLED HALLOWEEN BECAUSE IT WAS RAINING AND WINDY. No, I am not kidding, they cancelled Halloween. They believe we are incapable of making proper decisions ourselves. What’s next, cancelling Christmas or our New Years Eve celebrations because it’s snowing? GET OUT OF OUR LIVES, YOU ARE RUINING THE AMERICAN WAY (which is the progressive intention, they believe we are too stupid to be accountable for our own well being and that of our families).
Have a great weekend and….
Hug your children and grandchildren, tell them you love them.
Buy American made products whenever you can.
God Bless America